A classic shingled house on Massachusetts‘ Billionaire Isle is up for grabs, and instead of costing millions, the house is being given away for free. The catch? You have to move it off the current owner’s property.

No, this doesn’t have to do with erosion. Nantucket — like many oceanside areas — has seen some home prices plummet due to erosion, forcing some homes to be moved or demolished.

But this house — at 140 Surfside Road on the southern side of the island near the airport — is located far enough away from the shore that erosion isn’t an issue.

Instead, the house — a 1,736-square-foot, three-bedroom, two-bath Colonial on a little over an acre — is being given away as part of the island’s Demolition Delay Bylaw program.

This is part of a longstanding island tradition of offering up homes for free rather than demolishing them and tossing them into the island’s one landfill. The tradition was codified into law in 1997.

“Why would we put these houses into a landfill when someone can use them?” asks local real estate agent Shelly Lockwood of Pepper Frazier Real Estate.

Whoever wants to claim a free house has to write a letter of intention to the town’s building commissioner and the owner. The claimant then has to be ready to move the house wherever it’s going within 180 days.

Notices about soon-to-be-razed homes will appear in either the Inquirer & Mirror and/or the Nantucket Current, and Lockwood says that just recently, the notices have been required to be posted online as well.

Giving away a multimillion-dollar home

Since 140 Surfside changed hands only six months ago, and isn’t in danger of falling into the ocean, Lockwood says it’s likely that the new owner never wanted the house to begin with.

“Because the value of the land is so high — because there’s none left on the island, really — people will buy a house they don’t want just to get the land,” she says.

Records show that Dean Lampe (also listed on the bylaw notice) bought the home on Dec. 4, 2025, through an LLC in an off-market deal for $3 million.

While it’s not known why he wants the house gone, records show he also sold the newly constructed seven-bedroom house next door for $8 million in 2023. So it’s possible that Lampe, who has bought and sold other properties on the island, plans a new build at 140 Surfside.

Lockwood, whose family moved to Nantucket in the 1970s and who lives on the island year-round, says the freebie will go fast. Moving a home can cost between $150,000 and $500,000, depending on size. That’s a lot cheaper than a new house on an island with a median price of $4.4 million.

Last year, a humble 600-square-foot “fisherman’s shack” was sold for $2 million after only a few days.

“When they come up, they are very hot commodities,” she says. “Who wouldn’t want a house for $150,000 or so moving costs? You grab them if you can; it’s a hell of a value.”

Currently, the cheapest land listing on the island is $1.65 million for 0.46 acres. Add approximately $200,000 to that for moving a free house to it, and now you have a Nantucket house for $1.85 million — a steep discount off the island’s median. And it could be even cheaper if you plan on plopping the dwelling on a relative’s property.

Lockwood says it’s common for those who can’t afford a multimillion-dollar house to buy land and simply wait for a freebie.

“They know one will come up,” she says.

Moving a house on Nantucket

Several construction firms on the island will move a house — and also pour its foundation.

“When it comes to moving a structure down the road, there are variables at play, such as road width, trees, utility lines, and neighboring structures,” Carl Jelleme of Toscana Corp., which has been moving homes on the island for 20 years, tells Realtor.com.

The company relocates 15 to 20 homes per year, Jelleme says. “Moving a building in multiple pieces is an option, but in our experience, it is rarely the most practical or cost-effective solution.”

The company says that a “significant number of moves” are now driven by environmental necessity, requiring the structural mover to lift the home from eroding bluffs and roll it back onto a new foundation, which can be a complex process.

Usually, the houses that are moved longer distances are hooked up to a flatbed and hauled intact — there are many videos online documenting the eye-catching process. The process can take three to 12 months, depending on the complexity of the route, the need for new foundations, and the time required for Historic District Commission review.

House transfers have to be made between Sept. 15 and June 15 before summer tourists crowd the island. Other restrictions include not moving a house in front of a school while it’s in session and informing utility companies so that they might temporarily bring down wires for safety.

If the claimant doesn’t have land available yet, the homes can be “parked” in what is called a “crib,” which suspends the home in the air until land is secured.

While reclaiming homes is an island tradition that harks back to when the area was settled, Mary Bergman, executive director of the Nantucket Preservation Trust, previously told Realtor.com, buying an expensive house just to give it away for free is fairly new.

“There didn’t used to be as many people here who didn’t want a house,” says Lockwood. “Twenty-five years ago, we didn’t have this mini-compound mentality. There’s millionaires and billionaires here now.

“But there’s also just a lot less land.”